The Speaker of the House of Representatives, Tajudeen Abbas, is set to inaugurate an ad hoc committee to investigate the inclusion of the Presidential Foreign Investment Promotion Council (PFIPC), an agency yet to be legally established, in the 2026 Appropriation Act.
The committee’s inauguration and public hearing will be held at the National Assembly Complex in Abuja, with the panel mandated to examine how about N1.32 billion was allocated to the agency despite its lack of legal recognition.
Chaired by Yusuf Gagdi, the committee was constituted following a resolution of the House to investigate the circumstances surrounding the controversial budget provision.
The investigation follows the arrest of Adeyemi Adeniyi, who allegedly presented himself as the Director-General of the PFIPC and is accused of facilitating the agency’s inclusion in the 2026 federal budget.
Adeniyi reportedly alleged that he paid N100 million through intermediaries to the President’s Chief of Staff, Femi Gbajabiamila, to assist in establishing the agency. However, the allegation has been denied by both the Presidency and the Office of the Chief of Staff.
According to the committee’s invitation, several senior government officials have been summoned to appear before the panel, including the Ministers of Budget and Economic Planning, Finance, Industry, Trade and Investment, Justice, and Foreign Affairs, as well as the Governor of the Central Bank of Nigeria, the heads of the EFCC, ICPC, DSS, and other key institutions.
The committee will also receive memoranda from stakeholders, civil society organisations and members of the public as part of its investigation.
Its primary objective is to determine how the PFIPC was included in the 2026 budget and identify the stage of the budget process where the allocation was introduced.
Meanwhile, concerns have emerged over the committee’s decision not to invite either Gbajabiamila or Adeniyi to testify at the initial hearing.
Some lawmakers and public affairs analysts have questioned the omission, arguing that excluding the two central figures in the controversy could undermine the credibility and transparency of the investigation.
